ZRA still owes mines K7.1bn in VAT refunds

THE Zambia Revenue Authority (ZRA) still owes mining companies a total of K7.1 billion in VAT refunds, says ZRA Commissioner General Kingsley Chanda. And Chanda has announced that the Authority paid a total of K12.9 billion in tax refunds to all businesses last year. Meanwhile, Chanda says government’s targeted K59.3 billion in tax revenues this year will be challenging to achieve given Zambia’s significant economic contraction last year amid the onslaught of the COVID-19 pandemic. Speaking during a media briefing in Lusaka, Wednesday, Chanda said despite the Authority paying K8.5 billion in VAT refunds to mining companies last year, the Authority still owed the sector an outstanding K7.1 billion. “In terms of tax refunds, the Authority during the year paid…...